Market Overview

Atlas Growers ™ Receives Approval for 1,000,000 ft² Expansion

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EDMONTON, Alberta, Aug. 08, 2018 (GLOBE NEWSWIRE) -- ATLAS GROWERS LTD. ("Atlas" or the "Company"), a wholly owned subsidiary of Atlas Biotechnologies Inc., has received a positive Development Permit Application ("Application") for a 1,000,000 ft² light industrial processing plant. Atlas received a Notification Letter and Notice of Decision from the Planning & Development Department, Lac Ste. Anne County in July 2018 related to the Application. With this positive Application, Atlas intends to increase its cannabis production footprint with a secondary facility that will provide nearly 700,000 ft² of custom engineered cultivation space. This secondary facility is planned for the same 160 Acre site as the current 38,000 ft² facility which will be completed in August 2018.

Atlas has been carefully engineering its expansion facility, which will further optimize production to maximize yields and minimize inputs. Automation systems currently in development will nearly eliminate the possibility for human error through the entire cultivation process. Furthermore, advanced air transfer and filtration systems allow for every room to be carefully monitored and constantly filtered to eliminate the risk of crop contamination. Atlas facilities are fully enclosed entities, not greenhouses, allowing cultivators to maintain the highest level of consistency possible when cultivating medicinal cannabis. 

"Atlas Growers is excited to take its existing intellectual property, and further optimize it for large scale medicinal cannabis cultivation. Our attention to detail in design will allow us to meet Good Manufacturing Practise ("GMP") and Good Production Practise ("GPP") requirements for our partners in Canada and overseas, while always providing consistent, high quality products," said Atlas Growers President Sheldon Croome.

The Atlas management team estimates that the Company will be able to successfully obtain Access to Cannabis for Medical Purposes Regulations ("ACMPR") licencing for cultivation in the 3rd quarter, 2018.

About Atlas Growers Ltd.

Atlas Growers Ltd. ("Atlas") is based in Edmonton, Alberta, Canada and is a wholly owned subsidiary of Atlas Biotechnologies Inc. Atlas has applied for, and expects to receive in the second half of 2018, its cultivation and sales licenses under Health Canada's ACMPR. Atlas' initial purpose-built 38,000 square foot facility is nearing completion and will have the capacity to produce approximately 5,000 kg of dried cannabis annually as well as to refine cannabis concentrates. Further, the wholly owned 160 Acre Atlas site could allow for future expansion of up to 12,000,000 square feet of production capacity. Atlas is well financed and has an unutilized $6.25 million bank facility in place with ATB Financial.

For further information contact:

Jeffrey R. Gossain, P. Eng.
Vice President of Operations
Phone: 780-784-5920
Email: jeff@atlasgrowers.com
Website: www.atlasgrowers.com

Graeme Dick, BMgmt
Colwell Capital Corp.
403-561-8989
graeme@colwellcapital.com

Dean Stuart
403-617-7609
dean@boardmarker.net

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